Internet Services

Question 1

What is e-Commerce?

Answer 1

The buying and selling of goods on the World Wide Web.

Question 2

In e-Commerce, money is transferred via what process?

Answer 2

Electronic Funds Transfer (EFT)

Question 3

In e-Commerce, customers must input what when purchasing an item?

Answer 3

A Card Verification Code (CVC)

Question 4

e-Commerce provides an immediate transfer of what?

Answer 4

Funds

Question 5

List three advantages of e-Commerce to the customer.

Answer 5

1. Stores are available 24/7
2. Greater variety of stores with more items available
3. Elderly and disabled people can have heavy items delivered

Question 6

List two advantages of e-Commerce to the vendor.

Answer 6

1. Their sales can occur 24/7

2. Checkout operators are not required

Question 7

What is meant by online banking?

Answer 7

A service where customers can access their bank account through the bank’s secure website.

Question 8

How do customers log in to online banking?

Answer 8

With a username, password and bank verification code.

Question 9

List three things that customers can do using online banking.

Answer 9

Customers can:

1. View recent transactions
2. Pay bills online
3. Transfer money

Question 10

List three advantages of online banking to the customer.

Answer 10

1. Available 24/7
2. Transactions can be completed at home
3. Faster than face to face

Question 11

List three advantages of online banking to the bank.

Answer 11

1. Fewer branches and staff are required
2. Electronic statements are used which reduce paper and needs for postage
3. The bank reaches a larger customer base